CHARLOTTE, N.C. — The Charlotte region’s largest employer in the financial services sector — Wells Fargo & Co. — is freezing raises for the company’s top earners, according to a recent report from Bloomberg. That’s as the San Francisco-based bank is looking at compensation in its effort to reduce annual expenses by $10 billion under CEO Charlie Scharf.
The latest move would halt increases in base pay for the coming year for employees with an annual salary of more than $150,000, the news service reports.
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